Payments/CA
Canada
ISO CA · 3 schemes
Summary
- Interac e-Transfer QR business payments
- Request Money QR invoice/storefront
- Real-Time Rail modernization (2026)
- Instant transfers within minutes
- Micro-merchant QR focus
Banking landscape
Central Bank
- Name: Bank of Canada
- Website: https://www.bankofcanada.ca/
- Role: Monetary policy, payment oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Royal Bank of Canada (RBC) | National | RBC Mobile |
| 2 | TD Bank | National | TD App |
| 3 | Scotiabank | National | Scotia App |
| 4 | BMO | National | BMO App |
| 5 | CIBC | National | CIBC Mobile |
Market Structure
- Interac: National payment network
- Big Five banks: Dominant
- Credit unions: Regional presence
- Fintech: Growing sector
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Interac e-Transfer | Interac | Instant | Active |
| Request Money QR | Interac | QR business | Active |
| LVTS | Payments Canada | High-value | Active |
| Real-Time Rail | Payments Canada | Instant | 2026 |
Interac e-Transfer
- Fast and secure transfers
- Email or phone based
- Bank-to-bank direct
- Within minutes (up to 30)
- 300+ financial institutions
Real-Time Rail (Lynx - 2026)
- Modernization initiative
- ISO 20022 messaging
- 24/7/365 availability
- Enhanced data capabilities
QR code standards
Interac e-Transfer Request Money QR
| Attribute | Value |
|---|---|
| Operator | Interac |
| Feature | Business payments |
| Access | Storefront, invoice, online |
| Setup | No hardware needed |
Request Money QR Features
- QR code-driven payments
- Storefront display
- Invoice integration
- Website/app embedding
- Small business focus
Use Cases
- Micro-merchants (hot dog vendors)
- Small business invoicing
- Non-profit donations
- Event payments
- Service payments
Third-Party Solutions
| Provider | Feature | Status |
|---|---|---|
| Nanopay | Scan-to-Pay | Active |
| Activity Messenger | Event payments | Active |
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Bank Apps | Big Five | Yes | e-Transfer |
| Nanopay | Third-party | Yes | Scan-to-Pay |
| Apple Pay | Apple | NFC | Tap |
| Google Pay | NFC | Tap |
Nanopay Scan-to-Pay
- Mobile phone QR generation
- Customer scans to pay
- Direct bank account payment
- Secure transactions
- Faster payment receipt
Bank Integration
- All Big Five support e-Transfer
- QR code generation in apps
- Request Money functionality
- Quick reference codes
- Consumer familiarity leveraged
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Request Money QR | Business QR | Interac | Active | — |
| e-Transfer | Instant | Bank | 300+ FIs | — |
| Nanopay | Scan-to-Pay | Third-party | Active | — |
Sources
- Interac - Business Request Money
- Interac - e-Transfer
- Interac - Charity Case Study
- Nanopay - Request Money
- Canada.ca - Mobile Payments
- Activity Messenger - e-Transfer
Full country report
Schemes
Standards
Primary · 3
Mentioned · 2